Joe Weisenthal
This is so cool (via Gawker and Justin Wolfers): A British gameshow called “Golden Balls” invites contestants to play a version of the Prisoner’s Dilemma, wherein the two contestants have to decide whether they’re going to “split” or “steal” a pot of money.
If they both opt to split, they split the money. If one opts to split, and one opts to steal, the one who steals it gets the whole pot. And if they both opt to steal it, then neither get the money.
You have to watch this video to appreciate the raw game theory power move that one contestant pulled.
See the video here.
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This is bad game theory? Given info of other person, the guy on the left has EV of 0, 13600 and he chose the outcome that would lead to 0. And pure idiocy by the guy on the right, to promise to steal, then split, leaving himself setup to receive 0
Actually I guess his EV is 0,0 so he has to choose split. But still idiocy by the guy on the right
No, I disagree. He drove the decision from the beginning. He kept the bald guy on the left from choosing steal because he came out from the beginning and convinced him that he would choose steal, no matter what. It left the bald guy with only one option, to choose split, and hope the guy split it with him afterwards. Once he knew he had him convinced, he actually chose Split, as that was what he wanted in the first place, since he knew the bald guy was not going to choose steal.